The tale of two international phenomena: International migration and global imbalances

Dramane Coulibaly, Blaise Gnimassoun () and Valérie Mignon ()
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Blaise Gnimassoun: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique

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Abstract: Following the dynamics of globalization, international migration has increased dramatically since the 1990s. Given that these migrations may obscure the natural demographic structure of nations, they are likely to explain a significant part of global imbalances. This paper tackles this issue by investigating the role played by international migration in the dynamics of global imbalances. To this end, we rely on an overlapping generations model to derive the theoretical relationship between international migration and current account position. Through a series of robust estimates, we empirically investigate this relationship by relying on a panel of 157 developed and developing countries over the period 1990-2014. Our results point to substantial effects of international migration. Specifically, we show that an increase in migration improves national savings and the current account balance in the destination country, while it has opposite impacts in the origin country. These effects are particularly pronounced in developing economies, and attenuated by migrants' remittances.

Keywords: International migration; current account; global imbalances; remittances (search for similar items in EconPapers)
Date: 2018
Note: View the original document on HAL open archive server: https://hal.science/hal-04141773
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Related works:
Working Paper: The tale of two international phenomena: International migration and global imbalances (2018)
Working Paper: The tale of two international phenomena: International migration and global imbalances (2018)
Working Paper: The tale of two international phenomena: International migration and global imbalances (2018)
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